Appendix 4
Major Chinese government-related investments in Australia[1]
May 2009
China Nonferrous Metal
Mining Group: agreed to take a
majority stake in Australian rare earths miner, Lynas Corp Ltd, for A$252
million (US$185.7 million). CNMC will buy 700 million new Lynas shares at 36
Australian cents each to gain a 51.7 per cent stake.
February 2009
Hunan Valin Iron and Steel
Group: will pay A$1.2 billion for a
16.5 per cent stake in Fortescue Metals Group, Australia's third-largest iron
ore miner.
MinMetals: has offered $US1.206 billion to buy the majority of
OZ Minerals’ operations including Sepon, Avebury, Rosebury, Golden Grove,
Century and Dugald River.
December 2008
Centrex: Wuhan Iron and Steel would invest A$180 million for
50 per cent share in five of its iron ore tenements on the Eyre Penisula. WISCO
will also take a 15 per cent stake in the company for A$9.7 million. It is
Centrex’s second major Chinese partner – the company is 10.1 per cent owned by
Chinese state-owned steel maker, Baotou Iron & Steel Group.
October 2008
Shenhua Energy Co: paid for a licence to explore coal deposits at the
Watermark allotment, Liverpool Plains, NSW (initial licence fee A$300m, initial
investment, A$175m).
September 2008
Xinwen Mining: agreed to pay A$1.5 billion for Linc Energy’s Bowen
Basin coal tenements in Queensland
August 2008
Jilin Tonghua Iron &
Steel: bought 10 per cent of IMX
Resources which is attempting to develop the Cairn Hill copper-gold project
near Cooper Pedy in South Australia, along with other Australian and African
projects.
May 2008
China West Mining: bought 10 per cent (~ 15 million shares) in FerrAus,
an iron ore exploration company in the Eastern Pilbara
March 2008
China Petrochemical
Corporation: China's biggest energy
distributor bought 60 per cent and control of the Puffin oil field in the Timor
Sea from AED Oil for $600 million.
Jinchuan Group Ltd: has secured government approval for its 11 per cent
stake in Australian nickel producer Fox Resources Ltd, Fox says. By agreeing to
buy 18.8 million shares at a premium issue price of A$0.95, Jinchuan becomes
Fox's largest shareholder.
February 2008
Chinalco : acquired 9 per cent of Rio Tinto shares in London
on February 3, 2008 worth $15.5 billion, announced it would seek the Treasurer's
approval and the agreement of Rio Tinto shareholders for another $US19.5
billion investment into the company.
China Metallurgical Group: has committed to pay A$400 million for the Cape
Lambert Iron ore project in WA.
Shougang Corp: spent $400 million buying 20 per cent of WA iron ore
company Mt Gibson Iron in early 2008.
Sinosteel: spent A$100 million for Midwest Corp in early 2008
and completed a A$1.37 billion agreed takeover at $6.37-a-share in 2008.
January 2008
Consortium: five Chinese companies were given FIRB approval in
January 2008 to fund A$3 billion Oakajee port and rail project in WA.
December 2007
Jiangsu Shagang: Maanshan Iron & Steel: Tangshan Iron &
Steel: Wuhan Iron & Steel: have a total stake of 15 per cent in BHP’s
Wheelarra iron ore mine near Newman in the Pilbara which produces 12 million
tonne per annum.
September 2007
Anshan Iron & Steel: paid A$39 million in September 2007 for 13 per cent
of iron ore miner Gindalbie and signed A$1.8 billion joint venture deal.
Baotou Iron & Steel: agreed to invest up to A$40 million for 10 per cent
equity stake in Centrec Metals and 50 per cent of its prospective Bungalow iron
ore project in South Australia.
Chalco: in September 2007 Queensland government awards
rights to develop A$3 billion bauxite project near Aurukun.
July 2007
CITIC: spent $113m lifting stake in Macarthur Coal stake
from 11.6 to 19.9 per cent.
March 2007
Shougang Corp: steel group spent A$56 million in March 2007 buying
13 per cent or iron ore developer Australian Resources and agreed to fund
$US2.1 billion development of the Balmoral South project and associated port
project in WA.
September 2006/April
2008
Shanghai Baosteel Group: owns 46 per cent of the Rio Tinto-operated Eastern
Range iron ore mine in Pilbara which produces 6.5 million tonnes a year worth
more than A$500 million a year. The Chinese investment is now worth more than
$1 billion.
June 2006
CNOOC: holds a 25 per cent share in China LNG, a new joint
venture within the existing US$19 billion North West Shelf structure that diluted
the other six joint venture parties down to 12.5 per cent each.
Earlier projects
China Iron & Steel: The Rio Tinto-operated Channar iron-ore mine in the
Pilbara has a capacity of 10mtpa and is 40 per cent owned by China Iron and
Steel (1987)
CITIC: paid more than A$400 for a 22.5 per cent stake in
the Portland Aluminium Smelter (1998).
Navigation: Previous Page | Contents